SmartStream Technologies, transaction management STP solutions provider, announced that Brown Brothers Harriman (BBH) has selected SmartStream Reconciliations to replace its current reconciliation system. Brown Brothers Harriman (BBH) is the 5th largest custodian bank and the oldest privately owned bank in America.
Speaking on behalf of BBH, Rick Berk, Chief Information Officer, said: “SmartStream Technologies was a logical choice to replace our current system. We were very impressed with the company’s ability to take reconciliations and exception management to the next level. Their corporate vision and constant investment in new product functionality is projected in their ability to handle our increasing volumes and our need for an enterprise-wide solution. BBH has chosen to partner with the leading provider for reconciliation and exception management solutions.”
Commenting on the agreement, Bob Mehta, Senior Vice President Operations, at BBH, said: “The selection of SmartStream Technologies formed part of a strategic decision by the bank to centralise our reconciliations processing. We were looking for a robust, enterprise-wide, functionally rich solution that could be extended to encompass all of the banks’ reconciliation requirements in the future and found SmartStream Reconciliations to be the best solution to meet those criteria.”
Speaking on behalf of SmartStream Technologies, Luis F. Longhi, Managing Director for the Americas region, said: “We are delighted to have such a prestigious organisation as BBH on board as a SmartStream Reconciliations client. The bank’s strategic commitment to SmartStream Technologies further enhances our blue chip client base and emphasises SmartStream Technologies’ position as the preferred solutions provider to the top tier financial institutions.”